VANCOUVER, Aug. 31, 2017 /CNW/ - Leagold Mining
Corporation (TSX: LMC) ("Leagold" or the "Company") is pleased to
report several high-grade drilling results from Bermejal including
15.5 grams per tonne ("gpt") over 27.0 metres, 17.4 gpt over 13.3
metres, 8.0 gpt over 20.3 metres and 16.8 gpt over 8.6 metres (all
capped grades and true widths; see Table 1). These results
are part of 20 holes being reported from the infill and step-out
exploration program at the Bermejal Underground deposit at the Los
Filos Mine, following the initial 20 holes reported on July 13, 2017.
Neil Woodyer, CEO stated "This
second set of holes continue to delineate the broad widths and high
grades of the mineralization below the junction of the sill and the
Bermejal intrusive. Overall the program has an impressive 90%
success rate with 36 of the 40 holes drilled intercepting the key
targets."
Over 25,000 metres (45%) of the 56,000 metre Bermejal
Underground program have been completed. A total of 62 of the
planned 113 holes have been drilled and, to date 40 holes have been
reported, 12 are in progress and the remaining 10 are in the
process of sampling or assaying. The entire drilling program
is expected to be completed within 2017 and these drill hole
results will be incorporated in an updated resource estimate.
Bermejal Underground mineralization extends approximately 1,600
metres along the strike of the intrusive contact and has a vertical
depth extent of over 600 metres (Figure 1). The drilling shows
consistent oxide mineralization at carbonate/intrusive contacts
either along the intrusive contact or below the intersection
between the sill and the Bermejal intrusive contact (a "sub-sill"
deposit; Figure 2). The mineralization in the Bermejal
Underground deposit remains open in several directions.
All holes intersected iron-oxide skarn mineralization as
targeted and only two holes (BU-36-17, BU-40-17) were below a 3 gpt
over 3 m diluted minimum width threshold.
Bermejal Underground Expansion Project Update
An environmental permit for the mine portal and exploration ramp
was completed in July 2017 (see news
release dated July 31, 2017).
Surface preparation for the portal is currently underway. The
ramp will provide access to the eastern and central portions of the
deposit and will enable additional exploration, allow collection of
material for confirmatory metallurgical testwork for heap leaching,
demonstrate the minability of Bermejal Underground, and advance the
project towards declaration of reserves.
Table 1: Drilling Program Highlights for Bermejal Underground
Deposit
Sector
|
Hole
ID
|
Zone
|
Skarn
Type
|
From
(m)
|
To
(m)
|
Length
(m)
|
True
Width (m)
|
Grade
(g/t Au)
|
Capped
(g/t Au)
|
Central
|
BU-14-17
|
UI
|
Exo
|
301.25
|
304.35
|
3.10
|
2.68
|
9.9
|
|
|
and
|
LC
|
Endo
|
470.10
|
473.35
|
3.25
|
3.05
|
9.0
|
|
|
and
|
LC
|
Endo
|
478.95
|
487.70
|
8.75
|
8.22
|
8.1
|
|
|
and
|
LI
|
Endo
|
575.50
|
583.70
|
8.20
|
2.12
|
9.2
|
|
|
including
|
LI
|
Endo
|
579.00
|
582.20
|
3.20
|
0.83
|
19.7
|
|
Central
|
BU-14A-17
|
LI
|
Exo
|
603.00
|
608.35
|
5.35
|
4.22
|
14.2
|
|
|
and
|
LI
|
Exo
|
614.75
|
617.20
|
2.45
|
1.93
|
5.7
|
|
|
and
|
LI
|
Exo
|
704.05
|
713.20
|
9.15
|
7.76
|
5.3
|
|
|
including
|
LI
|
Exo
|
704.05
|
707.75
|
3.70
|
3.14
|
7.8
|
|
East
|
BU-21-17
|
UI
|
Exo
|
270.35
|
273.95
|
3.60
|
3.38
|
4.4
|
|
|
and
|
UI
|
Endo
|
277.45
|
283.95
|
6.50
|
6.11
|
3.2
|
|
|
and
|
UI
|
Endo
|
307.45
|
321.30
|
13.85
|
13.01
|
4.4
|
|
East
|
BU-22-17
|
LC
|
Exo
|
546.35
|
552.60
|
6.25
|
6.16
|
3.4
|
|
|
including
|
LC
|
Exo
|
546.35
|
547.65
|
1.30
|
1.28
|
11.6
|
|
Central
|
BU-23-17
|
UC
|
Exo
|
373.55
|
380.85
|
7.30
|
7.19
|
4.5
|
|
|
and
|
Sill
|
Endo
|
405.20
|
411.65
|
6.45
|
6.23
|
6.2
|
|
|
and
|
Sill/LC
|
Endo/Exo
|
454.55
|
476.15
|
21.60
|
20.30
|
8.0
|
|
|
including
|
LC
|
Exo
|
457.30
|
470.60
|
13.30
|
12.50
|
10.9
|
|
|
and
|
LI
|
Exo
|
566.10
|
571.85
|
5.75
|
2.43
|
3.8
|
|
Central
|
BU-24-17
|
UC
|
Exo
|
300.90
|
303.80
|
2.90
|
2.89
|
4.7
|
|
|
and
|
LI
|
Endo
|
455.55
|
460.40
|
4.85
|
3.97
|
3.4
|
|
|
and
|
LI
|
Endo
|
478.05
|
481.55
|
3.50
|
2.87
|
3.3
|
|
|
and
|
LI
|
Endo
|
526.10
|
528.30
|
2.20
|
1.80
|
9.3
|
|
|
and
|
LI
|
Endo
|
577.80
|
579.15
|
1.35
|
1.11
|
9.9
|
|
Central
|
BU-25-17
|
UI
|
Endo
|
242.80
|
247.15
|
4.35
|
3.33
|
3.4
|
|
Central
|
BU-25A-17
|
Sill
|
Endo
|
396.20
|
400.20
|
4.00
|
3.06
|
4.44
|
|
|
and
|
LI
|
Endo
|
531.90
|
536.80
|
4.90
|
0.85
|
24.23
|
21.9
|
Central
|
BU-26-17
|
UC
|
Endo
|
247.05
|
250.55
|
3.50
|
2.87
|
4.0
|
|
Central
|
BU-27-17
|
UC
|
Exo
|
220.15
|
221.65
|
1.50
|
1.45
|
10.5
|
|
|
and
|
UI
|
Endo
|
255.90
|
268.10
|
12.20
|
11.78
|
5.2
|
|
|
and
|
UI
|
Endo
|
279.00
|
281.70
|
2.70
|
2.61
|
5.0
|
|
|
and
|
UI
|
Endo
|
309.95
|
314.90
|
4.95
|
4.78
|
7.0
|
|
Central
|
BU-28-17
|
UI
|
Exo
|
237.20
|
240.45
|
3.25
|
2.49
|
4.9
|
|
|
and
|
UI
|
Endo
|
268.00
|
273.10
|
5.10
|
3.91
|
6.9
|
|
|
and
|
UI
|
Endo
|
279.95
|
296.35
|
16.40
|
12.56
|
5.6
|
|
Central
|
BU-29-17
|
UI
|
Endo
|
212.10
|
224.55
|
12.45
|
12.03
|
3.8
|
|
|
including
|
UI
|
Endo
|
212.10
|
216.50
|
4.40
|
4.25
|
4.5
|
|
|
including
|
UI
|
Endo
|
220.05
|
224.55
|
4.50
|
4.35
|
4.6
|
|
Central
|
BU-30-17
|
UI
|
Exo
|
18.15
|
19.20
|
1.05
|
0.95
|
13.1
|
|
Central
|
BU-31-17
|
LC
|
Exo
|
440.75
|
444.85
|
4.10
|
3.85
|
3.8
|
|
|
and
|
LI
|
Exo
|
455.95
|
519.80
|
63.85
|
26.98
|
18.4
|
15.5
|
|
including
|
LI
|
Exo
|
455.95
|
466.90
|
10.95
|
4.63
|
6.3
|
|
|
including
|
LI
|
Exo
|
468.35
|
506.75
|
38.40
|
13.13
|
26.9
|
22.1
|
|
including
|
LI
|
Exo
|
506.75
|
519.80
|
13.05
|
4.46
|
5.7
|
|
East
|
BU-33-17
|
UI
|
Exo
|
369.75
|
374.45
|
4.70
|
3.85
|
4.7
|
|
|
and
|
UI
|
Endo
|
379.20
|
382.15
|
2.95
|
2.42
|
3.9
|
|
|
and
|
UI
|
Endo
|
402.35
|
407.45
|
5.10
|
3.91
|
3.4
|
|
|
and
|
UI
|
Endo
|
415.20
|
416.60
|
1.40
|
1.21
|
28.7
|
|
|
and
|
UI
|
Endo
|
431.45
|
433.55
|
2.10
|
1.82
|
7.8
|
|
Central
|
BU-34B-17
|
Sill
|
Endo
|
389.10
|
390.05
|
0.95
|
0.89
|
10.5
|
|
|
and
|
LC
|
Exo
|
402.30
|
406.05
|
3.75
|
3.74
|
3.4
|
|
Central
|
BU-35-17
|
UI
|
Exo
|
337.45
|
340.05
|
2.60
|
2.59
|
4.1
|
|
East
|
BU-36-17*
|
UI
|
Endo
|
412.80
|
413.55
|
0.75
|
0.70
|
4.9
|
|
Central
|
BU-37-17
|
UI
|
Exo
|
271.50
|
273.00
|
1.50
|
1.49
|
8.4
|
|
|
and
|
Sill
|
Endo
|
383.35
|
389.25
|
5.90
|
5.70
|
4.1
|
|
|
and
|
LC
|
Exo
|
411.95
|
420.85
|
8.90
|
8.60
|
16.8
|
|
|
including
|
LC
|
Exo
|
418.20
|
420.85
|
2.65
|
2.56
|
31.2
|
|
East
|
BU-38-17
|
UC
|
Endo
|
354.25
|
356.95
|
2.70
|
2.61
|
5.0
|
|
|
and
|
UC
|
Endo
|
391.50
|
395.85
|
4.35
|
4.20
|
5.5
|
|
East
|
BU-40-17*
|
UI
|
Exo
|
314.35
|
318.25
|
3.90
|
2.99
|
2.5
|
|
Central
|
BU-41-17
|
LI
|
Exo
|
451.65
|
490.50
|
38.85
|
13.29
|
17.6
|
17.4
|
|
including
|
LI
|
Exo
|
453.60
|
461.65
|
8.05
|
2.75
|
22.7
|
|
|
including
|
LI
|
Exo
|
480.70
|
487.45
|
6.75
|
2.31
|
31.7
|
30.7
|
|
and
|
LI
|
Exo
|
497.60
|
515.20
|
17.60
|
4.56
|
14.1
|
|
|
and
|
LI
|
Exo
|
519.55
|
538.60
|
19.05
|
4.93
|
17.0
|
16.0
|
|
including
|
LI
|
Exo
|
520.75
|
529.60
|
8.85
|
1.54
|
31.3
|
29.0
|
|
and
|
LI
|
Exo
|
560.55
|
586.30
|
25.75
|
4.47
|
4.9
|
|
|
and
|
LI
|
Exo
|
617.25
|
626.30
|
9.05
|
2.34
|
7.6
|
|
NOTES: Intervals
in bold are shown on cross sections or mentioned in the text of the
news release
|
*Drill holes BU-36-17
and BU-40-17 dilute below 3 gpt; all other intercepts are over 3
gpt when diluted to a minimum true width of 3 metres are
shown
|
UC = Upper Contact of
Sill; LC = Lower Contact of Sill; Sill = Oxide within Sill; UI =
Intrusive Contact above Junction with Sill; LI = Intrusive Contact
below Junction with Sill
|
Individual assays
within the intercepts were capped using 40 gpt limit
|
Figure 1: Plan View Map of Bermejal Area Showing Geology,
Drill Holes Reported and Outline of Bermejal Underground Resource
at 1,175 m elevation
Figure 2: Cross Section A-A' Facing East Showing Step-Out
Drilling below the Sill in the Bermejal Underground Deposit
Qualified Persons
Doug Reddy, P.Geo, Leagold's
Senior Vice President – Technical Services, is a Qualified Person
under NI 43-101, and has reviewed and approved the technical
contents of this news release on behalf of Leagold.
Los Filos Mine employs industry standard drilling and sampling
procedures. All exploration samples are sent to an ALS Global
facility in Guadalajara for
preparation and Vancouver for
analyses by fire assay and ICP. A full quality control and
assurance program and protocols are in place and are aligned with
best practices including regular insertion of certified reference
standards, blanks, and duplicates.
About Leagold Mining Corporation
Leagold is building a new mid-tier gold producer with a focus on
opportunities in Latin America. Leagold is based in
Vancouver, Canada and is listed on
the TSX under the trading symbol "LMC". The recent
acquisition of the Los Filos Mine, a low-cost gold producer in
Mexico, provides an excellent
platform for growth.
On behalf of Leagold Mining Corporation
Neil Woodyer, Chief Executive
Officer
This news release contains "forward-looking statements" and
"forward looking information" (as defined under applicable
securities laws), including but not limited to plans for future
development of the Los Filos Mine. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "expects", "expected", "budgeted", "forecasts"
and "anticipates". Forward-looking statements and information,
while based on management's best estimates and assumptions, are
subject to risks and uncertainties that may cause actual results to
be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the Los Filos Mine, risks related to the successful
integration of the acquisition; risks related to international
operations; risks related to general economic conditions and credit
availability, actual results of current exploration activities,
unanticipated reclamation expenses; changes in project parameters
as plans continue to be refined; fluctuations in prices of metals
including gold; fluctuations in foreign currency exchange rates,
increases in market prices of mining consumables, possible
variations in ore reserves, grade or recovery rates; failure of
plant, equipment or processes to operate as anticipated; accidents,
labour disputes, title disputes, claims and limitations on
insurance coverage and other risks of the mining industry; delays
in the completion of development or construction activities,
changes in national and local government regulation of mining
operations, tax rules and regulations, and political and economic
developments in countries in which Leagold operates. Although
Leagold has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. The forward-looking statements and
forward-looking information are made as of the date hereof and
Leagold disclaims any obligation to update any such factors or to
publicly announce the result of any revisions to any of the
forward-looking statements or forward-looking information contained
herein to reflect future results. Accordingly, readers should not
place undue reliance on forward-looking statements and
information. Please refer to Leagold's most recent filings
under its profile at www.sedar.com for further information
respecting the risks affecting Leagold and its business.
SOURCE Leagold Mining Corporation